Page 53 - Law Society of Hong Kong MPMC Manual v8 - With checklists (1 March 2018)

Practice Management Course | Unit 5
Business Planning

52. Use the action sheets to identify how the work group will improve profitability of the
work it undertakes, for example by:

• More efficient use of resources - the right person doing the right task,
better use of precedents, etc.
• Improved time recording.
• Reduction in write-downs and write-offs.
• Improved debtor and disbursement management.
• Reducing client complaints about fees.

For example:

Action By Time By Monitoring
whom estimate when Who/How
Test audit existing use of LMN 4.0 hours Aug Report at September
precedents for PI work. practice/staff meeting.
Identify new or refined LMN 2.0 hours Sep Report at September
precedents required. and practice/staff meeting.
STU
Prepare new precedents. All 40.0 hours Mar Report at April
practice/staff meeting.

Business development

Opportunities for new clients and new markets
53. Use the work sheets to provide details of what the practice will do to build business
for the future through promotion of the practice image and reputation in the
marketplace. For example:

Action By Time By Monitoring
whom estimate when Who/How
Attend local Chamber of PHG 2.5 hours Qtly Report to practice/staff
Commerce meetings. meeting in relevant
quarter.
Identify 2 possible targets in real KJL 4.0 hours Mar Agenda item for
estate/property development and practice/staff meeting
arrange introductions. until achieved.
Prepare short presentation for DRS 6.0 hours May Staff to review draft at
Chamber of Commerce lunch March meeting.
/breakfast meeting.

Expanding, modifying and repackaging existing services
54. Use the action sheets to identify the services.

Action By Time By Monitoring
whom estimate when Who/How
Develop and plan the skills, PFQ 150.0 May Weekly report to work
experience and practice areas to and hours practice and time
be marketed to existing retail asst. sheets to Managing
clients. Partner.
Develop planning seminar to be PFQ 10.0 hours Aug Diarise monthly review
offered to 3 developer clients. and dates.
asst.

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